Establish and Adjust Marketing Mix Report - MyRTO - Desklib
Added on 2020-06-05
16 Pages3923 Words53 Views
Professional Development
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Establish and adjustmarketing mix
Table of ContentsINTRODUCTION...........................................................................................................................1Main body........................................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Make identification on feature and importance of change management trainingprogramme..............................................................................................................................11.2 Define pricing policy and pricing variables to determine their impact on demand.........21.3 Identification on two promotional methods.....................................................................31.4 Define two channels of distribution.................................................................................31.5 Determining and examining the level of customer service provision to analyse itsimportance to marketing outcome. ........................................................................................41.6 Determining the key customer base and key pressure points.........................................5TASK 2............................................................................................................................................52.1 Identification of environmental factor and their effect on marketing mix.......................52.2 Make identification of consumer needs on marketing mix..............................................62.3 Marketing objective their characteristic and desired positioning of market....................62.4 selection of the market mix which can satisfy the target market in meet their objectives.72.5 Seeking approval from the marketing manager................................................................7TASK 3............................................................................................................................................83.1 Monitoring marketing strategy.........................................................................................83.2 Evaluation of the implication of altering components of marketing mix.......................103.3 Adjustment of marketing mix.........................................................................................103.4 Make Budget template as per strategy of marketing......................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing is one of an essential activity by which company can introduce product andservices in the market. It is process under which firm can advertise and promote its commodityfor gain customer attraction. While corporation effectively promote its services and items in themarket then customer can able to purchase the product. With the help of this kind of approachthe company can enhance its productivity and profitably. In the following assignment, asystematic strategic marketing plan has been addressed with respect of the MyRTO. In thisproject the strategy plan as per eh marketing mix is to be addressed in the well and effectivemanner (Fullerton and Merz, 2012.). The main aim of this report is to focus on activities likeproduct portfolio, external landscape. Main bodyTASK 1 1.1 Make identification on feature and importance of change management training programme.Change management programme work in the manner to have some kind of variation inthe function of business. His is done in the manner to improve result of business enterprise. Themanagement should provide effective training to implement new methods in business. This canbe known in he following manner are as-Key characteristicSignificance relate to thisIt helps in the manner to addressed the“Human side” systematically.Sometime any frequent change can create thesituation of human issues. With the help of thisapproach new skills, ability and capabilitiescan bee developed in employees (Luan andSudhir,2010). Commitment of senior management for longterm processSenior management has to involve in this kindof activities. Change in firm are quick basistherefore the employees of all levels look forsenior management for their support, strengthand direction.Clear, regular and effective communicationWith the help of having change rapidly in firmthere is need to be clear and goodcommunication approach. On behalf of this
each employee can have enough information sothat they can achieve their work in suitabilitymanner.1.2 Define pricing policy and pricing variables to determine their impact on demand.This thing is to analyse to know about the strategic management plan and Pricing policy 1- price skimming method.Public- It affects the customer with their highprice therefore people with high income canonly afford this.NGO- There object is not making profit.Therefore, they rarely prefer this kind of pricestrategy.Corporate- The companies who make profitthere main aim to sear profit by satisfyingcustomer.Pricing policy 2 price penetration method.Public – At initial level they provide goodproduct s at lower price later they used to fallthis price. In this way customers usually getdissatisfied.NGO- Firstly they used to take this servicelater they on they shift to other pricing strategy(Berthon, Pitt, and Shapiro, 2012).Corporate- This is the strategy used by variouscompany just to stay in the market for thelonger period.Pricing variable 1- Cost based pricing Public- The cost factor influence the variouskinds of customer in the market. Lower theprice higher the demand and vice versa.NGO- They also rarely prefer this pricingvariable method.Corporate- The company mostly prefer the
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